All loyalty strategies, rewards, or incentive programs have spectacular, charming, and dreamlike strategies and benefits. Those who are part of a loyalty plan surely value being a part of it, but what does the company with resources for implementing a loyalty plan dream of? Profitability and results
A loyalty, engagement, and incentive program aims to captivate each of its participants through various strategies and activities it will develop within them. Captivating each person will involve a much higher level of engagement and/or commitment from each target person/company to strive for the maximum benefits from the plan's creators.
According to Harvard, at its Center for Workplace Development, "Engaged" workers are intellectually and emotionally involved in their work, which motivates them to put forth their best effort every day. Motivated workers feel excited about doing their job and are committed to their workplace.
Without a doubt, the target audience of an incentive and loyalty plan (customers, sales forces, collaborators, suppliers) are the ones who ultimately enjoy each of the benefits offered at every stage throughout the plan. In each of these stages, we talk about great experiences, unique and exclusive events, sports events, family experiences, local activities, simple moments like eating ice cream with the family, stocking the pantry, among an endless array of possibilities.
All this attractive world full of unique experiential situations, which will surely remain in the memory of those who have earned them, how is it made possible? Who invests in them? Why is a loyalty and incentive plan created?
The answer is clear, precise, and brings us to reality. A loyalty and incentive plan aims to achieve results and, therefore, profitability for those who implement and invest in it. The main objective is to achieve results oriented towards meeting the numerical goals established within the organization, where the target audience (customers, sales forces, collaborators, suppliers) is defined as the vehicle to achieve this.
The key to achieving the company's numerical objectives is that, through strategy and execution during each stage of the plan, our target audience remains motivated, involved, and challenged by the established goals. Their fulfillment will be their passport to receive the incentives created in the plan's strategy.
Sebastián Muñoz y Laura Montaña
Loyalty & Rewards.
